Moody's upgrades Post

Moody's Investors Service said it upgraded ratings of Post Holdings, Inc., including its corporate family rating to B1 from B2, probability of default rating to B1-PD from B2-PD, senior secured debt ratings to Ba1 from Ba2 and senior unsecured debt ratings to B2 from B3.

Moody's also said it affirmed the company's speculative grade liquidity rating at SGL-1.

The outlook is stable.

The upgrades reflect improvement in Post's credit profile over the past several years, which was achieved primarily through acquisitions and core earnings growth, Moody's said.

These improvements include increased scale, broader product diversity and a more balanced financial policy, the agency said.

Product diversity declined somewhat following the divestiture of the private brands business last October, but is still good, Moody's said.

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